BMO Capital Markets Issues Pessimistic Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its target price cut by stock analysts at BMO Capital Markets from C$80.00 to C$75.00 in a note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 22.99% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Scotiabank downgraded shares of Linamar from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. CIBC decreased their price objective on Linamar from C$88.00 to C$85.00 in a report on Friday, November 8th. Finally, TD Securities lowered their target price on Linamar from C$92.00 to C$89.00 and set a “buy” rating on the stock in a research report on Monday, September 30th.

Linamar Trading Up 1.8 %

LNR opened at C$60.98 on Wednesday. The firm’s fifty day simple moving average is C$61.68 and its 200 day simple moving average is C$64.97. The stock has a market capitalization of C$3.76 billion, a P/E ratio of 6.22, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. Linamar has a 12 month low of C$54.95 and a 12 month high of C$73.84.

Linamar (TSE:LNR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 EPS for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. The company had revenue of C$2.64 billion for the quarter, compared to analyst estimates of C$2.75 billion. Linamar had a return on equity of 11.31% and a net margin of 5.77%. As a group, research analysts anticipate that Linamar will post 11.4332724 EPS for the current fiscal year.

Linamar Company Profile

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.